City Commission Regular Meeting - 6:00 pm
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Agenda Item # 11.b.
Meeting Date:
10/05/2020
Re:
Agreement regarding surplus funds
Submitted For:
Pete Sweeney
SUBJECT:
Approval of an agreement on the distribution of surplus funds related to the foreclosure sale of a property located at 118 Hialeah Avenue.
SUMMARY:
The property in question was the subject of a foreclosure sale. The City of Fort Pierce and the previous owners both claimed entitlement to post-sale funds being kept in the court registry. The parties would like to submit an agreed order dividing the funds, such that the City will receive $20,000 and the previous owners will receive $14,575.93 and any applicable interest.
RECOMMENDATION:
Approve the agreement as presented.
ALTERNATIVES:
Direct staff to renegotiate the agreement.
RESPONSIBLE STAFF:
Tanya Earley, Assistant City Attorney
COORDINATED WITH:
Peter Sweeney, City Attorney
Margaret Arraiz, Code Compliance Manager
Fiscal Impact
OTHER INFORMATION:
$20,000 to general fund.
Attachments
Proposed Order
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Form Review
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Reviewed By
Date
City Manager
Nick Mimms
09/23/2020 02:45 PM
Form Started By:
Tanya Earley
Started On:
09/16/2020 10:57 AM
Final Approval Date:
09/23/2020
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